Are you planning to lease your property? If so, then you must learn the things to consider in putting a rental agreement together. A rental agreement is a set of rules that both the landlord and the tenant agree to follow in their rental relationship. This legal document contains rules and agreement such as how long the tenant will be occupying the property and the amount of rent due each month. Here are some of the information and agreements that need to be included on the rental agreement:
Name of all the Tenants
All of the tenants should sign the rental agreement. This makes each tenant legally responsible to all the terms of the property.
Limits on Occupancy
The agreement should also indicate who lives in your property; all those who signed the lease and if applicable, their minor children. This guarantees you as a landlord that your property is safe and housed by the people you have screened and approved.
Term of Tenancy
Every rental document is required to indicate whether it is a rental agreement or a fixed-term lease. Rental agreements commonly run from month-to-month while leases typically last a year.
You should also specify the amount of rent, when it is due and how is it paid. This will help you and the occupant(s) avoid confusion and disputes.